Allissa Kline is a Buffalo, New York-based reporter who writes about national and regional banks and commercial and retail banking trends. She joined American Banker in 2020 and previously worked for more than a decade at Buffalo Business First, where she covered banking and finance, insurance and accounting. Kline started her journalism career at the Observer-Dispatch in Utica, New York. She graduated from Colgate University and the S.I. Newhouse School of Public Communications at Syracuse University.
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Mike Maguire will succeed Daryl Bible as the North Carolina bank's finance chief. Maguire has been in charge of Truist's consumer finance and payments businesses for nearly two years.
September 7 -
The North Carolina bank's insurance subsidiary agreed to pay $3.4 billion to buy BankDirect Capital Finance. The sale reflects opposing strategies by the two companies.
September 6 -
The Minneapolis company, which increased its minimum wage to $18 an hour in June, will bump it up to $20 in response to inflationary and competitive pressures.
August 26 -
The megabank had previously announced plans to shed consumer and commercial banking units in Russia, which invaded Ukraine in February. The revised plan is expected to cost about $170 million over the next year and a half.
August 25 -
Net income at the Toronto-based bank dipped by double digits during the fiscal third quarter. But the company's U.S. operations, including City National Bank in Los Angeles, fared better.
August 24 -
Neal Holland, who has been serving as MUFG Union Bank's chief financial officer, will assume the same role at First Republic. It is the latest in a series of recent changes in the San Francisco bank's leadership ranks.
August 23 -
In a joint letter to the Consumer Financial Protection Bureau, three industry groups challenged the legal basis for a recent information request and accused the agency of unfairly disparaging the quality of customer service that banks provide.
August 22 -
The North Carolina bank bought technology from Zaloni in an effort to boost data collection, metadata management, advanced analytics, artificial intelligence and machine learning.
August 22 -
More than half of the nation's 20 largest commercial banks, including Citigroup and PNC, have stopped charging nonsufficient-funds fees, and another four are scheduled to end the practice by year-end. That leaves three holdouts: SVB Financial, Huntington and MUFG Union Bank.
August 18 -
The Pittsburgh-based company is no longer assessing NSF fees to customers whose accounts don't have enough money to cover certain transactions. It is the latest bank to revise portions of its overdraft policy amid a raging debate about the fairness of such charges.
August 12
